This Bill Could Be a Big Win for Small Business Owners

H.R. 6450 was introduced by Representatives Young Kim (R-CA) and Angie Craig (D-MN) in January.

The Service Corps of Retired Executives, or SCORE, is on track to be reinstated for 2023, providing free resources to small business owners. Since 1964, the program has served over 11 million entrepreneurs and looks to continue its tradition of providing affordable counseling services. Learn more about the future of the SCORE program by reading on.

A SCORE for small business owners

In the United States today, there are an estimated 30 million small business owners employing roughly two of every three private sector workers. A vital part of a thriving economy, the federal government has taken action to preserve the American tradition of small business ownership. Among other programs, the Service Corps of Retired Executives was established in 1964 to offer mentorship to entrepreneurs.

At its core, SCORE is a 501(c)(3) nonprofit organization and partner of the Small Business Administration, or SBA. SCORE connects business-experienced volunteers with local entrepreneurs and small businesses to cultivate strong community relationships. Through one-on-one counseling and educational workshops, SCORE connects small businesses to the resources they need to grow and succeed.

The best thing about the program? It's free! You can access local mentors, webinars on demand, and a library of resources at www.score.org. Be sure to give SCORE a follow on social media, too.

Read more: How to start an online business

What's new

Although SCORE has been around for over half a century, the bill would tweak the program slightly.

If the bill passes, the SBA would have to ensure that the SCORE program "reinforce an inclusive culture by recruiting diverse volunteers for the chapters of the SCORE program." The term "diverse" is not defined in the text of the bill, but it could broadly promote volunteer membership from a range of social, ethnic, and economic backgrounds, including on the basis age, sex, gender identity, and race. The demographics of the program's 10,000 plus volunteers is currently unavailable.

Additionally, the bill provides for the expansion of the program into rural and underserved communities. The SCORE program currently boasts 250 local chapters, but does not effectively service rural communities or economically disadvantaged communities, according to the bill. As a remedy, the bill calls for additional online resources to be made available to entrepreneurs across the United States.

Where to?

The time-sensitive bill was introduced over nine months ago, yet still faces hurdles before becoming law. For now, the SCORE program's future lies in the hands of the Senate.

Introduced in late January with bipartisan support, the bill didn't see much action until March, when it was the topic of a House report by the Committee on Small Business. The Committee endorsed the bill to be passed by the House, which it was after a brief forty minutes of debate. In April, the bill was received in the Senate and referred to the Senate Committee on Small Business and Entrepreneurship, where it currently stands.

The SCORE program offers counseling and learning opportunities to American entrepreneurs at no cost. The program's fate is entwined with H.R. 6450, which would reinstate the program for 2023 with some stipulations. The bill must pass the Senate and be signed into law by the president by the end of the year if the program is to continue. For now, the future of the SCORE program is far from certain.